Post
Topic
Board Economics
Re: Spending less than your income is key to financial stability
by
Xcode7
on 06/02/2025, 09:32:00 UTC
It's not possible to spend more then you earn because if one spends more than he or she earns, it definitely means that the person also spends others money, maybe borrowed money and this will make the person be on a big depts. One can spend all the money they earn but can't spend more than what they earn. Economy is hard because of inflation, and one need to have more than one job so that he can take appropriate care of his expenses and also make some savings for future purpose.
Even spending all of your income will also have a negative impact on financial stability in the future, sometimes someone does not have many choices because the cost of living or their needs are quite high from their income so that there are also some people who have to go into debt to cover it.
But back to the future plan to make financial stability remain and under control, namely by not spending all of your income and if the needs are high then we are also required to be able to increase our income regardless of how it is, but I am sure someone who works harder can do it.